https://perpdesk.net/Perpetual futures mechanics, calculators and fee arithmetic.https://perpdesk.net/guides/headline-cash-and-carry-yields-fall-by-half-after-fees-and-margin-spli/https://perpdesk.net/guides/headline-cash-and-carry-yields-fall-by-half-after-fees-and-margin-spli/Headline funding rates mask execution fees, capital fragmentation across venues, and short perp liquidation risk that cut cash-and-carry yields. Funding…https://perpdesk.net/guides/visible-depth-overstates-real-market-liquidity-in-perpetuals/https://perpdesk.net/guides/visible-depth-overstates-real-market-liquidity-in-perpetuals/Visible order book depth maps resting limit orders, but market sweeps and fee schedules alter true execution cost far beyond displayed spreads. Order Book…https://perpdesk.net/guides/funding-and-taker-fees-drive-an-89-dollar-daily-gap-per-100k/https://perpdesk.net/guides/funding-and-taker-fees-drive-an-89-dollar-daily-gap-per-100k/Evaluating offshore perpetual venues requires checking contracting entities, funding rate spreads, baseline fees, and liquidation mechanics before…https://perpdesk.net/guides/raw-exchange-exports-fail-tax-reporting-by-miscalculating-fee-basis/https://perpdesk.net/guides/raw-exchange-exports-fail-tax-reporting-by-miscalculating-fee-basis/Exchange CSV exports list isolated trades but omit fee adjustments and cross-venue cost basis tracking required for accurate tax reporting. Exchange raw…https://perpdesk.net/guides/the-fee-arithmetic-that-decides-whether-your-strategy-is-viable/https://perpdesk.net/guides/the-fee-arithmetic-that-decides-whether-your-strategy-is-viable/The fee arithmetic that decides whether your strategy is viable Fee math nobody runs before they start trading perps. Assume a 0.06% taker fee and 0.02%…https://perpdesk.net/guides/what-you-are-actually-buying-when-you-copy-a-trader/https://perpdesk.net/guides/what-you-are-actually-buying-when-you-copy-a-trader/Copy trading is an allocation decision disguised as a convenience feature. What you are actually buying when you copy a trader: Their position sizing…https://perpdesk.net/guides/market-orders-eat-thin-books-when-liquidation-engine-triggers-adl/https://perpdesk.net/guides/market-orders-eat-thin-books-when-liquidation-engine-triggers-adl/Forced market orders trigger liquidation cascades when mark price updates push maintenance margin breaches across clustered price levels. At 20x leverage…https://perpdesk.net/guides/rollup-batches-cut-l1-posting-costs-via-blob-space/https://perpdesk.net/guides/rollup-batches-cut-l1-posting-costs-via-blob-space/Rollups compress execution costs by batching transaction data into L1 blobs while challenge windows enforce settlement finality. Rollup transfers reduce…https://perpdesk.net/guides/funding-rates-and-why-a-correct-trade-still-bleeds/https://perpdesk.net/guides/funding-rates-and-why-a-correct-trade-still-bleeds/Perpetual futures don't expire, so exchanges use a funding rate to tether the perp price to spot. Longs pay shorts when funding is positive; shorts pay…https://perpdesk.net/guides/four-regulatory-regimes-ban-retail-perps-and-push-retail-volume-offsho/https://perpdesk.net/guides/four-regulatory-regimes-ban-retail-perps-and-push-retail-volume-offsho/MiCA, VARA, MAS, and SFC frameworks restrict retail perpetual futures, forcing retail position holders onto offshore venues facing taker fees up to…https://perpdesk.net/guides/proof-of-reserves-misses-off-chain-liabilities-and-snapshot-capital/https://perpdesk.net/guides/proof-of-reserves-misses-off-chain-liabilities-and-snapshot-capital/Point-in-time proof of reserves attestations verify on-chain asset ownership while omitting off-chain liabilities, encumbrances, and borrowed snapshot…https://perpdesk.net/guides/bitcoin-halving-cuts-block-subsidy-50-percent-every-210000-blocks/https://perpdesk.net/guides/bitcoin-halving-cuts-block-subsidy-50-percent-every-210000-blocks/Bitcoin block reward halvings follow a coded schedule, leaving funding rate spreads across venues as the primary variable cost for perpetual long…https://perpdesk.net/guides/etf-creation-mechanisms-pass-premium-risk-to-secondary-perpetuals/https://perpdesk.net/guides/etf-creation-mechanisms-pass-premium-risk-to-secondary-perpetuals/Cash-model spot ETFs force authorised participants to hedge cash-to-coin timing gaps on crypto exchanges, causing temporary price-to-NAV dislocations…https://perpdesk.net/guides/ai-fraud-scales-mass-attacks-but-out-of-band-checks-prevent-loss/https://perpdesk.net/guides/ai-fraud-scales-mass-attacks-but-out-of-band-checks-prevent-loss/Generative AI reduces scam deployment costs while deterministic checks like out-of-band callbacks and bookmarked URLs remain completely effective…https://perpdesk.net/guides/autonomous-agent-execution-costs-vary-by-0-0152-percent-per-8h/https://perpdesk.net/guides/autonomous-agent-execution-costs-vary-by-0-0152-percent-per-8h/Delegated agent payments face a 0.0152 percentage point funding spread on SNDK while account abstraction key scopes lack native liability bounds. Holding…https://perpdesk.net/guides/llms-fail-at-risk-arithmetic-while-parsing-onchain-data/https://perpdesk.net/guides/llms-fail-at-risk-arithmetic-while-parsing-onchain-data/Language models process unstructured governance notes and contract text reliably but generate inaccurate numerical outputs for margin and position sizing…https://perpdesk.net/guides/ai-trading-bots-cover-static-grid-engines-operating-under-high-fee-dra/https://perpdesk.net/guides/ai-trading-bots-cover-static-grid-engines-operating-under-high-fee-dra/Retail AI trading bots execute fixed grid logic where taker exchange fees and funding spreads consume backtested margins. Retail products marketed as AI…https://perpdesk.net/guides/at-25x-leverage-a-4-percent-price-move-triggers-liquidation/https://perpdesk.net/guides/at-25x-leverage-a-4-percent-price-move-triggers-liquidation/Increasing leverage from 3x to 25x shrinks the adverse price movement required for position liquidation from 33.33 percent to 4.00 percent. Moving from 3x…https://perpdesk.net/guides/sizing-positions-by-fixed-dollar-loss-caps-portfolio-drawdown/https://perpdesk.net/guides/sizing-positions-by-fixed-dollar-loss-caps-portfolio-drawdown/Sizing perpetual positions by leverage defaults risk to venue limits, while fixed dollar sizing anchors position notional directly to stop loss distance…https://perpdesk.net/guides/stop-limit-orders-fail-in-fast-moves-while-post-only-cuts-fee-drag/https://perpdesk.net/guides/stop-limit-orders-fail-in-fast-moves-while-post-only-cuts-fee-drag/Post-only flags prevent maker-taker fee conversion while stop-limit orders risk non-execution during fast price moves across major futures venues…https://perpdesk.net/guides/moving-collateral-between-venues-costs-up-to-0-055-percent/https://perpdesk.net/guides/moving-collateral-between-venues-costs-up-to-0-055-percent/Cross-exchange capital routing via USDT or USDC avoids volatile price slippage but incurs venue taker fees and variable network gas costs. Stablecoin…https://perpdesk.net/guides/underpriced-network-fees-delay-order-settlement-across-venues/https://perpdesk.net/guides/underpriced-network-fees-delay-order-settlement-across-venues/Network execution fees separate base dynamic block costs from priority tips, while perpetual venue spreads reach 0.0150 percentage points on SOL. On ETH…https://perpdesk.net/guides/four-backup-errors-turn-self-custody-account-balances-to-zero/https://perpdesk.net/guides/four-backup-errors-turn-self-custody-account-balances-to-zero/Storing BIP39 seed phrases in cloud storage or single physical sites exposes account capital to unrecoverable loss through key exposure or physical…https://perpdesk.net/guides/exchange-custody-trades-operational-risk-for-execution-access/https://perpdesk.net/guides/exchange-custody-trades-operational-risk-for-execution-access/Self-custody removes counterparty default risk entirely while transferring total key management liability and latency overhead to the asset owner. Custody…